The Federation of British Industry said that optimism among British retailers has fallen to a two-year low, the lowest level since households were hit by soaring energy prices and financial markets were panicked by former Prime Minister Truss's fiscal plans. According to the survey, the assessment of the business situation fell from -13 in August to -21 in November, the lowest level since -22 in November 2022. The retail sales margin fell from -6 in October to -18 in November, the lowest level since August last year. According to the agency, British Chancellor of the Exchequer Reeves proposed a £25 billion tax increase for employers in the budget, which had a particularly severe impact on retailers. “The sharp rise in employers' national insurance next year will hit retailers hard. Ben Jones, the agency's chief economist, said, “The planned increase in commercial interest rates for high-value properties will greatly increase the operating costs of distribution centers.”

The Federation of British Industry said that optimism among British retailers has fallen to a two-year low, the lowest level since households were hit by soaring energy prices and financial markets were panicked by former Prime Minister Truss's fiscal plans. According to the survey, the assessment of the business situation fell from -13 in August to -21 in November, the lowest level since -22 in November 2022. The retail sales margin fell from -6 in October to -18 in November, the lowest level since August last year. According to the agency, British Chancellor of the Exchequer Reeves proposed a £25 billion tax increase for employers in the budget, which had a particularly severe impact on retailers. “The sharp rise in employers' national insurance next year will hit retailers hard. Ben Jones, the agency's chief economist, said, “The planned increase in commercial interest rates for high-value properties will greatly increase the operating costs of distribution centers.”